Cost of living in Phoenix: rent, homes and salary
Prices in Phoenix put the cost of living in Phoenix 3.3% above the US average. In the Phoenix, AZ metro area, the 2024 BEA regional price parity (RPP) is 103.3, the US is 100, and housing on its own is 121.2.
- Level of prices
- 103.3US = 100, BEA 2024
- Price level for housing
- 121.2, based on rents, US = 100.
Cost of living index for Phoenix
A regional price parity measures how much the same goods and services cost in one place, measured against the US average of 100. BEA prices the whole Phoenix-Mesa-Chandler, AZ metro area together, and Phoenix sits in it. Housing (rents) sits furthest from the US average, at 121.2, or 21.2% above the US.
| Price level, US = 100 | Phoenix, AZ metro | Arizona | Metro against the US |
|---|---|---|---|
| All items | 103.3 | 100.7 | +3.3% |
| Goods | 95.0 | 95.4 | −5.0% |
| Housing (rents) | 121.2 | 106.8 | +21.2% |
| Utilities | 93.3 | 92.3 | −6.7% |
| Other services | 104.0 | 102.8 | +4.0% |
By metro area and state, the 2024 regional price parities come from the U.S. Bureau of Economic Analysis. BEA regional price parities
Phoenix rent
Phoenix's typical asking rent runs $1,571 a month, according to ZORI (Zillow Observed Rent Index), which tracks rents on homes listed now. The figure is +1.0% higher than a year earlier. The US figure is $1,932. Census median gross rent counts every renting household, not only new leases, and comes to $1,712. One year of asking rent equals 22% of the median household income.
| Rent | Phoenix | United States |
|---|---|---|
| Typical asking rent, Zillow ZORI | $1,571 | $1,932 |
| Asking rent, 12-month change | +1.0% | |
| Median gross rent, Census ACS 2024 | $1,712 | $1,487 |
| Share of median income, one year of asking rent | 22% | 28% |
Sources: Zillow Observed Rent Index; one-year estimates from Census Bureau American Community Survey 2024.
Phoenix home prices
In Phoenix, a typical home was worth $404,067 as of September 2026, per Zillow Home Value Index (ZHVI). That index measures what a mid-market home is worth. That figure is −1.2% on a year, compared with $366,157 for the US. That equals 4.7 years of median household income, while the US figure is 4.5.
| Home prices | Phoenix | United States |
|---|---|---|
| Typical home value, September 2026 | $404,067 | $366,157 |
| 12-month change | −1.2% | +1.2% |
| 10-year change | +90.5% | +77.4% |
| Price to income (years of median income) | 4.7 | 4.5 |
| Price to rent (years of asking rent) | 21.4 | 15.8 |
Price chart since 2000, plus the forecast, plus days on market: Phoenix housing market.
The salary you need to live in Phoenix
What you earn and where you live are the two questions behind the Phoenix salary that matches what your pay buys today.
- Moving out of
- Salary
Side by side, the method and every city: cost of living comparison by city.
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Cost of living in Phoenix vs other cities
| City | Level of prices | Housing | Typical rent figure | Home value, typical |
|---|---|---|---|---|
| Phoenix | 103.3 | 121.2 | $1,571 | $404,067 |
| Tucson | 96.9 | 91.8 | $1,428 | $318,760 |
| Mesa | 103.3 | 121.2 | $1,532 | $428,871 |
| Flagstaff | 100.3 | 109.0 | $2,128 | $650,175 |
| Sedona | 98.3 | 98.8 | $2,612 | $891,380 |
| New York City | 112.6 | 148.6 | $4,089 | $825,854 |
| Los Angeles | 113.6 | 170.4 | $2,772 | $927,891 |
| Chicago | 103.6 | 112.0 | $2,311 | $334,108 |
| Houston | 98.6 | 104.5 | $1,544 | $259,465 |
Price levels use BEA regional price parities (2024), where the US = 100. Rent data: Zillow ZORI. Home values: Zillow ZHVI, September 2026.
Every city ranked: city cost of living comparison. Each state: cost of living figures.